Vietnam Coffee Export May Reach 5 Billion in 2024

Vietnam Coffee Exports May Reach 5 billion in 2024

According to preliminary statistics, Vietnam's coffee exports in October 2024 are estimated at 50,000 tons, with a turnover of USD 293 million. This represents a decrease of 2.7% in volume and 2.0% in turnover compared to September 2024 but an increase of 14.3% in volume and 85.9% in turnover compared to October 2023.

In the first 10 months of 2024, Vietnam's coffee exports are estimated at 1.15 million tons, with a turnover of USD 4.6 billion, a 10.8% decrease in volume but a 40.1% increase in turnover compared to the same period in 2023.

It is forecasted that coffee exports this year may reach USD 5 billion.

Vietnam Coffee is currently the third highest export-earning commodity following wood products and seafood.Given this trend, experts forecast that coffee exports could reach USD 4.5 - 5 billion in 2024, setting a new record for Vietnam's coffee export value.

The EU is currently the largest consumer of Vietnamese coffee, accounting for 38.9% of the total volume and 37.9% of the total export value (averaging between USD 1.2–1.4 billion per year over the past five years).

Assessing the global coffee supply-demand situation, international experts believe there will be no shortage of supply difficulties for Arabica, but Robusta may face supply challenges.

Vietnam has been the world's leading producer and supplier of Robusta coffee for many years. The global market is accustomed to buying Vietnamese Robusta, and roasters worldwide have adjusted their roasting formulas to include a significant proportion of Vietnamese Robusta.

The International Coffee Organization (ICO) reports that Robusta prices have reached a 30-year high due to concerns about a tightening supply in Vietnam.

According to evaluations, coffee continues to benefit from rising global demand. Currently, the 2022-2023 crop season has ended, and Vietnam domestic stocks are nearly exhausted.  In 2023, Vietnam exported over 1.62 million tons of coffee, generating more than USD 4.2 billion.

Following are 20 biggest coffee exporters in the first 9th months of 2024